Sunday, April 22, 2018

Zimbabwe rejects a takeover bid by South Africa's ArcelorMittal for state steel maker ZISCO in a move that could slow a drive to attract foreign investment.

Kumba Iron Ore says it will review iron ore supplies to ArcelorMittal unless the steelmaker agrees to an interim pricing arrangement "in the near future".

South Africa's largest steel maker ArcelorMittal SA posts a strong rise in profits as it fights a number of competition-related battles and tries to restore a cheap supply of iron ore.

China's steel industry body will allow mills to sign individual supply deals with global miners, as it seemed to abandon efforts to preserve annual pricing that for months had appeared doomed.

Kumba Iron Ore starts the arbitration process against ArcelorMittal in a dispute over the supply of cheap ore to South Africa's largest steelmaker, who has bumped up prices significantly since the battle started.

There have been ominous developments on the board of Imperial Crown trading with Duduzane Zuma, son of the country's president, Jacob Zuma, becoming a director.

Kumba CEO Chris Griffith says a breakthrough has been reached with Transnet Freight Rail over the future expansion of the Sishen-Saldanha export corridor.

Rio Tinto raises iron ore output forecast after a 39 percent jump in first-quarter production.

South-African based pure iron ore company Kumba Iron Ore says it expects to increase output to 70 million metric tons by 2019, from 39.4 million in 2009.

Kumba Iron Ore has made it a priority to prevent Imperial Crown Trading 289 getting its hands on a stake in the Sishen Iron Ore mine.